Far East Energy Shouyang CBM Reserves Positive

Far East Energy Corporation has said that coal bed methane gas at 2C (Best Estimate) level of confidence for the Shouyang block, in Shanxi Province, China as on December 31 is approximately 1.1 trillion cubic feet (tcf). The future revenue is approximated at $2.6 billion.

Net contingent resources range from 1.3 tcf (High Estimate), with an estimated revenue at $3.78 billion to  736.1 billion cubic feet (Low Estimate), with an estimated revenue of $1.19 billion.

The estimate report has been prepared by Resource Investment Strategy Consultants (RISC).

"As expected, these are excellent numbers that indicate the high potential of the Shouyang Block. These additions to contingent resources reinforce the potential and the significance of both the high permeability and the high gas content of the Block,” CEO Michael McElwrath said.